Profit: $2.31 Total: $793.86
There was an ECB meeting today that drove the euro and dollar in multiple directions today. The rates were left unchanged however, they said they are ready to revise QE strategy if needed. There weren’t any further talk about reducing stimulus or tapering which probably forced the EUR/USD to fall and bounce back pretty hard. Draghi’s states that it’s too early to comment on Trump and Brexit for now while the EUR/USD recovers it’s loss from panic selling.
I’ve mentioned about tick charts before in this blog but I want to refocus my attention back to scalping. Although today I mainly focused on USD/JPY, it goes to show that in a slow market, a trader can be able to scalp plenty of pips with the right strategy.
Here’s the 1 min time chart
Here’s the 50 tick chart. You can see already that the tick chart presents more candles within the same moves.
Here’s the result of my chaotic scalping. Although I made a ton of mistakes this just shows the amount of potential tick scalping can have.